Steps I’m Taking Now to Keep My Small Business Profitable
It’s mostly about doing less, but better
Times are hard for small businesses. Especially micro-businesses like mine. We can’t compete with the multi-million dollar corporations, and it doesn’t really make sense to try.
Carving a deeper niche, building an audience, and offering something that truly resonates with that audience seems to be the key to surviving the 2020s, whether you’re selling a product, a service, or a lifestyle.
I’ve recently listed the steps I feel I need to take to keep my small business profitable right now. Here’s how that list is looking.
Decide what not to do
I’m a big fan of making a not-to-do list. It’s far too easy to fall into the trap of putting all your effort into perfecting the way you do things that you don’t actually need or want to do.
As Peter Drucker says:
“There is nothing as useless as doing efficiently that which should not be done at all.”
Fill your not-to-do list with the things you currently do in your business that:
- Don’t build your audience or customer base
- Don’t impact your bottom line
- Provide a very low ROI
